Hong Kong Enacts Stablecoin Law for Licensed Issuers

Hong Kong Enacts Stablecoin Law for Licensed Issuers

Hong Kong has formally passed its Stablecoin Bill, establishing a regulatory framework for fiat-backed stablecoins and positioning the city as a global Web3 hub. On May 21, 2025, Hong Kong's Legislative Council approved the Stablecoin Bill, introducing a licensing regime for fiat-referenced stablecoin issuers. Under this new law, any entity issuing stablecoins in Hong Kong, or those backed by the Hong Kong dollar, must obtain a license from t...

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